The U.S. has six major classes of wheat, with Hard Red Winter (HRW) comprising more than 40 percent of the total. Analysts have noted that the 2022 HRW crop is the smallest since 1957. Drought has certainly impacted harvested acres and yield, but overall U.S. wheat production has been on a steady decline for many years. It has been averaging almost a 1 percent decline per year. The U.S. is the world’s fifth overall largest producer of wheat, but when looked at by its individual classes, the output is smaller than many other countries’ total output. China and India produce a lot more wheat but are smaller exporters. While the U.S. exports almost half of its far smaller volume of wheat produced, Europe consumes internally 7...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.